At $32M, TJX CEO leads Central Mass. highest-paid executives
Ernie Herrman, president & CEO of The TJX Cos., Inc.
Central Massachusetts has a new highest-paid public company leader: Ernie Herrman, president and CEO of the TJX Cos. Inc. in Framingham.
Herrman earned $31.8 million in total compensation last year, including a $1.6 million salary and $21.8 million in stock options awards to catapult him into the No. 1 spot on Worcester Business Journal’s list of highest-paid CEOs in the Central Massachusetts, which focuses on the region’s public companies.
Herrman had been ranked the fourth-highest in 2021.
Lee Delaney, the former B.J.’s Wholesale Club CEO who died in April 2021, was second on the highest-paid list this year, after topping the list last year. Delaney and his estate earned $21.6 million, mostly in stock options. Bob Eddy, his successor, landed third on the list with a total compensation of $16 million.
Herrman and Eddy had the highest CEO-salary-to-median-employee compensation ratio amongst all Central Massachusetts public company executives. Eddy earned 856 times the median B.J.’s employee salary, while Herrman earned 2,249 times the median salary of a TJX employee, which includes part-time employees.
The full list of highest-paid CEOs will appear in the WBJ Book of Lists, publishing on July 18. The top 10 list of highest paid CEOs in the Central Mass. Region are:
1. Ernie Herrman, The TJX Cos. Inc., in Framingham
Total compensation: $31,802,000
CEO-to-median-employee pay ratio: 2,249:1
2. Lee Delaney, B.J.'s Wholesale Club, in Westborough
Total compensation: $21,626,020
CEO-to-median-employee pay ratio: Did not disclose
3. Bob Eddy, B.J.'s Wholesale Club, in Westborough
Total compensation: $16,340,546
CEO-to-median-employee pay ratio: 859:1
4. Michael Mahoney, Boston Scientific Corp., in Marlborough
Total compensation: $16,064,039
CEO-to-median-employee pay ratio: 233:1
5. Stephen MacMillan, Hologic Inc., in Marlborough
Total compensation: $14,748,400
CEO-to-median-employee pay ratio: 164:1
6. Robert Willet, Cognex Corp., in Natick
Total compensation: $10,534,520
CEO-to-median-employee pay ratio: 119:1
7. Udit Batra, Waters Corp., in Milford
Total compensation: $8,653,559
CEO-to-median-employee pay ratio: 116:1
8. Donald Young, Aspen Aerogels Inc., in Northborough
Total compensation: $8,367,611
CEO-to-median-employee pay ratio: Did not disclose
9. Eugene Scherbakov, IPG Photonics, in Oxford
Total compensation: $7,284,851
CEO-to-median-employee pay ratio: 169:1
10. George Sakellaris, Ameresco, in Framingham
Total compensation: $7,046,400
CEO-to-median-employee pay ratio: 70:1
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